The OCC announced the issuance of a Cease and Desist Order against HSBC Bank USA, N.A., McLean, Virginia, for violating the Bank Secrecy Act (BSA) and its underlying regulations. News Release 2010-121, Cease and Desist Order

The OCC, the United States federal banking supervisors, the Financial Crimes Enforcement Network, and the Securities and Exchange Commission, in consultation with the Commodity Futures Trading Commission, have issued interagency guidance entitled "Guidance on Obtaining and Retaining Beneficial Ownership Information." OCC Bulletin 2010-11, Guidance (PDF 54KB)

Bank Secrecy Act/Anti-Money Laundering

03/19/2009

The OCC's regulations that implement the Bank Secrecy Act governing the confidentiality of a suspicious activity report. OCC 2009-9, Part 4 (PDF), Part 21 (PDF), Comments

Bank Secrecy Act/Anti-Money Laundering

01/15/2009

The Financial Crimes Enforcement Network (FinCEN) recently announced the December 5, 2008, publication in the Federal Register of the final rule on Currency Transaction Reporting (CTR). OCC Bulletin 2009-5, Final Rule (PDF), Comments

The Financial Crimes Enforcement Network (FinCEN) issued guidance informing banks and other financial institutions operating in the United States of serious deficiencies existing in the anti-money laundering systems. OCC 2008-15

Bank Secrecy Act/Anti-Money Laundering

08/30/2007

The federal banking agencies recently issued an interagency statement which provides general policy guidance regarding circumstances in which an agency is required to issue a cease-and-desist order to address noncompliance with Bank Secrecy Act (BSA) requirements. OCC Bulletin 2007-36, interagency statement

Bank Secrecy Act/Anti-Money Laundering

08/30/2007

The guidance clarifies three issues: BSA regulatory requirements as they relate to supporting documentation, what constitutes "supporting documentation," and when legal process is required for supporting documentation disclosure. OCC Bulletin 2007-34, guidance

Bank Secrecy Act/Anti-Money Laundering: Final Rule: Imposition of Special Measures Against the Commercial Bank of Syria including its subsidiary, the Syrian Lebanese Commercial Bank as a Financial Institution of Primary Money Laundering Concern. OCC 2006-19, Final Rule (PDF)

A foreign bank's U.S. branch may disclose a suspicious activity report to its head office; a U.S. bank may disclose the same to controlling companies. OCC Bulletin 2006-4, Statement (PDF)

Bank Secrecy Act/Anti-Money Laundering

11/01/2005

Comptroller of the Currency John C. Dugan said that the OCC is committed to a process of Bank Secrecy Act and Anti-Money Laundering (BSA/AML) supervision and enforcement that is not only effective, but also measured and fair. NR 2005-108, Remarks (PDF)

Bank Secrecy Act/Anti-Money Laundering

08/17/2005

The Office of the Comptroller of the Currency announced that they have each assessed a $24 million civil money penalty (PDF) against the New York Branch of Arab Bank for violations of the Bank Secrecy Act. NR 2005-80, FINCEN

Bank Secrecy Act/Anti-Money Laundering

08/08/2005

The federal banking and thrift agencies, along with the Financial Crimes Enforcement Network (FinCEN), announced registration details for a live webcast of the Bank Secrecy Act/Anti-Money Laundering Examination Manual outreach event in New York on August 22. NR 2005-78

This letter (PDF) explains that a remote check scanning terminal at a customer's location, which permits the customer to deposit checks electronically, is not a branch within the meaning of the McFadden Act, 12 U.S.C. § 36.

The OCC, the Board of Governors of the Federal Reserve System, and the FDIC (agencies) are seeking comment on a notice of proposed rulemaking (NPR) that would revise their market risk capital rules. OCC Bulletin 2011-3, Notice of Proposed Rulemaking (PDF)

The OCC appointed the Federal Deposit Insurance Corporation (FDIC) as receiver for Unity National Bank, Cartersville, Georgia. As of December 31, 2009, the bank had approximately $300 million of total assets. News Release 2010-37

Capital

12/17/2009

The Basel Committee on Banking Supervision released for comment new proposals that aim to strengthen the resiliency of the banking sector through new capital and liquidity standards. News Release 2009-160, Proposals, Comments should be e-mailed to: regs.comments@occ.treas.gov. Please use the subject: New proposals that aim to strengthen the resiliency of the banking sector through new capital and liquidity standards, when e-mailing.

Capital

12/04/2009

The OCC appointed the FDIC receiver for First Security National Bank, Norcross, Georgia. News Release 2009-150

Capital

12/04/2009

The OCC, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of Thrift Supervision published in the Federal Register on November 20, 2009, a final rule concerning the risk-based capital treatment for one-to-four family residential mortgages modified under the U.S. Treasury Department's Home Affordable Mortgage Program. OCC Bulletin 2009-35, Final Rule

Capital

10/02/2009

The Office of the Comptroller of the Currency appointed the Federal Deposit Insurance Corporation as receiver for Southern Colorado National Bank, Pueblo, Colorado. News Release 2009-119

The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of Thrift Supervision have issued final guidance outlining the supervisory review process for banking organizations implementing the new advanced capital adequacy framework known as Basel II. OCC Bulletin 2008-20, Guidance (PDF)

Capital

07/29/2008

This bulletin briefly summarizes an interagency Notice of Proposed Rulemaking (NPR) for a U.S. implementation of the standardized approach of the Basel II Capital Accord. OCC 2008-19, Proposed Rulemaking (PDF), Comments

The Office of the Comptroller of the Currency has approved for publication a notice of proposed rulemaking that would implement the standardized approach of the Basel II Capital Accord. News Release 2008-75

The Office of the Comptroller of the Currency announced that it has approved a final rule implementing the advanced approaches of the Basel II Capital Accord. News Release 2007-123, Final rule (PDF 756KB), Comments, Preamble (PDF 1.2MB)

Comptroller of the Currency John C. Dugan told a House subcommittee today that the Basel II capital framework is intended not only to align capital requirements more closely to the complex risks inherent in large, internationally active banks, but to require those institutions to substantially improve their risk management systems and controls. NR 2006-96, Testimony (PDF)

Capital

09/05/2006

The federal bank and thrift regulatory agencies announced that they will request public comment on a notice of proposed rulemaking (NPR) that would implement new risk-based capital requirements in the United States for large, internationally active banking organizations. NR 2006-94, Statement, Market Risk, NPR, Advanced Capital Adequacy Framework (PDF)

Capital

06/08/2006

Comptroller of the Currency John C. Dugan discussed the Basel II capital accord in a speech to the Centre for the Study of Financial Innovation. 2006-69, Remarks (PDF)

Capital

03/13/2006

The Comptroller of the Currency, John C. Dugan told a conference of international bankers that the continued safety and soundness of the banking system demands that regulators move away from the simplistic risk-based capital system now in use for internationally active banks to one that substantially enhances risk management and more closely aligns capital with risk. NR 2006-30, Remarks (PDF)

Capital

11/10/2005

Comptroller of the Currency, John C. Dugan told the Senate Banking Committee that the goal of the Basel II Capital Framework and a separate initiative for smaller institutions will substantially enhance safety and soundness. NR 2005-111, Testimony (PDF), Statement (PDF)

Capital

10/20/2005

The four federal banking agencies--the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of Thrift Supervision-- published an interagency advance notice of proposed rulemaking (ANPR) regarding potential revisions to the existing risk-based capital framework. NR 2005-103, OCC 2005-37, ANPR (PDF)

Capital

01/27/2005

The federal banking and thrift agencies today released an interagency statement on implementation of the Basel II framework and the qualification process for the framework's "advanced approaches." Implementation of Basel II Framework (PDF) - NR 2005-6

The Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System, and the Office of Thrift Supervision (the agencies) jointly published in the Federal Register a final rule revising their Community Reinvestment Act (CRA) regulations. OCC Bulletin 2010-39, Final Rule (PDF 172KB)

The OCC released a list of Community Reinvestment Act (CRA) performance evaluations that became public during the period of December 15, 2009 through January 14, 2010. News Release 2010-4, Evaluations

Community Development

12/22/2009

The federal bank regulatory agencies announced the annual adjustment to the asset-size thresholds used to define "small bank," "small savings association," "intermediate small bank," and "intermediate small savings association" under the Community Reinvestment Act (CRA) regulations. News Release 2009-165, Announcement (PDF 46KB)

Community Development

09/24/2009

OCC Receives National Association of State and Local Equity Funds (NASLEF) Leadership Award. News Release 2009-113

Community Development

11/24/2009

The OCC released the fall 2009 edition of Community Developments focusing on bank strategies to mitigate the impacts of foreclosed properties on communities across the country. News Release 2009-147, Community Developments (PDF 1.4MB)

The OCC published a Community Developments Insights report that provides bankers an overview the FHA's 203(k) Home Rehabilitation Mortgage Insurance. News Release 2009-91, Insights (PDF)

Community Development

06/12/2009

The OCC, along with the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of Thrift Supervision, recently announced a list of distressed or underserved nonmetropolitan middle-income geographies. OCC Bulletin 2009-18, List (PDF)

The federal bank regulatory agencies announced the annual adjustment to the asset-size thresholds used to define small bank, small savings association, intermediate small bank, and intermediate small savings association under the Community Reinvestment Act (CRA) regulations. News Release 2008-146, Announced (PDF)

Community Development

11/26/2008

The Office of the Comptroller of the Currency (OCC) published a Community Developments Insights report that describes how banks participate in the Historic Tax Credit (HTC) program which is used to rehabilitate and restore certified historic properties. News Release 2008-140, Community Developments Insights

Community Development

09/19/2008

The Office of the Comptroller of the Currency (OCC) released the Fall 2008 edition of Community Developments Investments focusing on Multibank Community Development Corporations (CDC). NR 2008-109

Community Development

09/18/2008

The Office of the Comptroller of the Currency (OCC) published a Community Developments Insights report which looks at bank participation in the SBA's 7(a) Loan Guarantee Program. NR 2008-108, Community Developments Insights (PDF)

Acting Comptroller of the Currency, Julie L. Williams, spoke before the Regional Interagency Committee about the noteworthy progress that strategic partnerships are making in mitigating the effects of foreclosures in cities and communities nationwide. NR 2005-44, Speech (PDF)

The OCC has joined the public-private coalition that supports the third annual Protect Your Identity Week (PYIW), an initiative of the National Foundation for Credit Counseling (NFCC) and the Council of Better Business Bureaus (BBB). News Release 2010-123

Compliance, Consumer

10/08/2010

The OCC has entered into a settlement with Woodforest National Bank, The Woodlands, Texas, that requires the bank to pay approximately $32 million in reimbursement to consumers who were harmed by the bank's overdraft program. News Release 2010-122, Settlement, Civil Money Penalty

The Office of the Comptroller of the Currency (OCC) has directed Wachovia to make restitution to consumers harmed by the bank's relationships with telemarketers and payment processors. News Release 2008-48

Compliance, Consumer

02/15/2008

The Office of the Comptroller of the Currency promoted awareness of consumer protection resources during National Consumer Protection Week event on Capitol Hill. NR 2008-18

The federal financial institution regulatory agencies and the Federal Trade Commission have sent to the Federal Register for publication final rules on identity theft "red flags" and address discrepancies. News Release 2007-122, Final rules (PDF 756KB), Comments

The Office of the Comptroller of the Currency, Office of Thrift Supervision, Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, National Credit Union Administration, Federal Trade Commission, Commodity Futures Trading Commission, and Securities and Exchange Commission (the agencies) are requesting comment on a model privacy notice that financial institutions may use to provide disclosures under the Gramm-Leach-Bliley Act (GLBA) and the agencies' implementing regulations. OCC 2007-13, NRP, Comment

Compliance, Consumer

03/31/2006

Federal regulators released Evolution of a Prototype Financial Privacy Notice, a report by Kleimann Communication Group summarizing consumer research commissioned by the regulators as part of their ongoing efforts to develop improved financial privacy notices. NR 2006-42

Compliance, Consumer

03/30/2006

Chief Counsel and First Senior Deputy Comptroller Julie L. Williams called for more effective "consumer-oriented disclosures in the financial services business" as a vital part of consumer protection in a speech to the 2006 Banking Institute. NR 2006-40, Remarks (PDF)

Compliance, Consumer

03/22/2006

Agencies Seek Public Comment on Issues Related to the Accuracy of Consumer Credit Reports and the Reinvestigation of Disputes. NR 2006-36

The Comptroller of the Currency John C. Dugan said that most bank customers don't find the privacy notices they receive to be especially useful and said an ongoing interagency process to simplify those notices will better serve banks and their customers. NR 2006-8, Remarks (PDF)

Compliance, Consumer

12/01/2005

The Comptroller of the Currency, John C. Dugan made his first major speech before the Consumer Federation of America here in Washington, DC. He spoke about negative amortization and its increasing prominence in retail credit products. NR 2005-117, Speech (PDF)

Compliance, Consumer

08/29/2005

The Office of the Comptroller of the Currency (OCC) published the Summer 2005 edition of the Community Developments newsletter, which provides various perspectives and strategies on how the revised Home Mortgage Disclosure Act (HMDA) reporting requirements could enhance mortgage-lending opportunities for national banks and their customers. NR 2005-84, Newsletter

Compliance, Consumer

08/17/2005

The Office of the Comptroller of the Currency (OCC) released a list of Community Reinvestment Act (CRA) performance evaluations that became public during the period of July 15, 2005 through August 14, 2005. The list contains only national banks and insured federal branches of foreign banks that have received ratings. NR 2005-81, CRA Evaluations

Compliance, Consumer

06/16/2005

The letter (PDF) concludes that "GAP Addendums" sold by a national bank to borrowers in connection with the bank's motor vehicle loans, in connection with a GAP program administered by an insurance company, are debt cancellation contracts subject to 12 CFR Part 37.

Compliance, Consumer

06/01/2005

The Office of the Comptroller of the Currency (OCC) released its schedule of Community Reinvestment Act (CRA) examinations to be conducted in the third quarter of 2005. NR 2005-54, CRA (PDF)

Compliance, Consumer

05/17/2005

Acting Comptroller of the Currency, Julie L. Williams, testified before the Senate Banking Committee and made four key points on the OCC's perspectives concerning the marketing and disclosure practices of the U.S. credit card industry. NR 2005-49, Statement (PDF)

The letter (PDF) concludes that it is permissible for a national bank to provide consulting and advisory services to deposit customers who hire independent messenger or courier services to transport banking items to and from the bank. Includes activities such as helping customer select a courier service, contract administration, and help with dispute resolution. Since the bank will not provide the courier service, this is not a branching activity.

Corporate Governance & Structure

03/31/2011

Six federal agencies are seeking comment on a proposed rule that would require sponsors of asset-backed securities (ABS) to retain at least 5 percent of the credit risk of the assets underlying the securities and would not permit sponsors to transfer or hedge that credit risk. News Release 2011-39, Proposed Rule (PDF)

The OCC has published an interim rule amending 12 CFR 4 to expand the description of banks qualified for the 18-month examination cycle. The OCC invites comments on the interim rule. OCC 2007-16, Proposed Rule (PDF), Comment

The letter (PDF) concludes that national bank directors may meet the qualifying shares requirement under 12 U.S.C. Section 72 by purchasing trust preferred stock. This is significant because it offers bank directors a new means of obtaining a financial stake in the bank in addition to purchasing bank stock.

Insured commercial banks earned $4.7 billion trading cash instruments and derivative products in the second quarter of 2006, the Office of the Comptroller of the Currency reported in its quarterly Bank Derivatives Report. NR 2006-106, Bank Derivatives Report (PDF 334KB)

Derivatives

02/15/2006

The letter (PDF) concludes that the bank may engage in the transactions it proposes, where the bank's examiner-in-charge is satisfied that the bank has adequate risk management and measurement systems and controls.

Derivatives

09/15/2005

The letter (PDF) states that the Bank, with the approval of its examiner-in-charge, may engage in customer-driven, physically settled emissions derivative transactions and may enter into physical transactions in emission allowances to hedge its risk exposures to the emissions derivative transactions.

Derivatives

09/13/2005

The letter (PDF) concludes that the Bank may engage in customer-driven, perfectly matched, cash-settled derivative transactions provided the Bank's examiner-in-charge is satisfied that the Bank has adequate risk management and measurement systems and controls to conduct the activities on a safe and sound basis.

Derivatives

08/09/2005

The letter (PDF) responds that a Bank may use cash-settled derivatives linked to the S&P 500 Index to hedge the market risk associated with the fees it charges customers as part of its investment advisory activities, provided the trust company establishes, to the satisfaction of its supervisory office, an appropriate risk management and compliance process.

Derivatives

07/14/2005

The letter (PDF) confirms that the bank, with approval of its examiner-in-charge, may engage in customer-driven equity index derivatives transactions and may use baskets of securities to hedge its risk exposures to the index swaps where the baskets do not exactly match the underlying index, but are designed to replicate the sector and industry weightings and general risks of the index.

Derivatives

06/23/2005

The Comptroller of the Currency reported its quarterly Bank Derivatives Report. Derivatives held by U.S. commercial banks increased by $3.2 trillion in the first quarter of 2005, to $91.1 trillion. NR 2005-62

Derivatives

04/06/2005

This letter (PDF) concludes that the Bank may engage in electricity derivative transactions and hedges, settled in cash and by transitory title transfer, as part of, or incidental to, its existing financial intermediation business in energy-related commodities derivatives, provided the Bank has established an appropriate risk measurement and management process for these activities to which the EIC expresses no supervisory objection.

The agencies are issuing this advisory to remind all banking organizations that, except in very limited circumstances, they are prohibited by law from disclosing their CAMELS rating and other nonpublic supervisory information to insurers as well as other non-related third parties without permission from their appropriate federal banking agency. Issue Advisory (PDF), OCC 2005-4

Comptroller of the Currency John C. Dugan issued a final decision on Carlos Loumiet, Esq., former counsel to Hamilton Bank, NA (closed), Miami, Florida. Final Decision (PDF)

Enforcement Actions

06/19/2009

The Office of the Comptroller of the Currency (OCC) released new enforcement actions taken against national banks and individuals currently and formerly affiliated with national banks. News Release 2009-68

Enforcement Actions

05/15/2009

The Office of the Comptroller of the Currency (OCC) today released new enforcement actions taken against national banks and individuals currently and formerly affiliated with national banks. News Release 2009-51

Enforcement Actions

04/17/2009

The Office of the Comptroller of the Currency (OCC) today released new enforcement actions taken against national banks and individuals currently and formerly affiliated with national banks. News Release 2009-40

Enforcement Actions

03/20/2009

The Office of the Comptroller of the Currency (OCC) today released new enforcement actions taken against national banks and individuals currently and formerly affiliated with national banks. News Release 2009-27

Enforcement Actions

02/20/2009

The Office of the Comptroller of the Currency (OCC) released new enforcement actions taken against national banks and individuals currently and formerly affiliated with national banks. Release 2009-10

Enforcement Actions

01/16/2009

The Office of the Comptroller of the Currency (OCC) today released new enforcement actions taken against national banks and individuals currently and formerly affiliated with national banks. News Release 2009-3

Enforcement Actions

12/19/2008

The Office of the Comptroller of the Currency (OCC) released new enforcement actions taken against national banks and individuals currently and formerly affiliated with national banks. News Release 2008-149, OCC Enforcement Actions

Enforcement Actions

11/21/2008

The Office of the Comptroller of the Currency (OCC) released new enforcement actions taken against national banks and individuals currently and formerly affiliated with national banks. News Release 2008-138, OCC Enforcement Actions

Enforcement Actions

10/17/2008

The Office of the Comptroller of the Currency released new enforcement actions taken against national banks and individuals currently and formerly affiliated with national banks. News Release 2008-123, Enforcement Actions

Enforcement Actions

08/12/2008

The Office of the Comptroller of the Currency (OCC) release new enforcement actions taken against national banks and individuals currently and formerly affiliated with national banks. News Release 2008-95, Enforcement Actions

Enforcement Actions

07/28/2008

The Office of the Comptroller of the Currency (OCC) released new enforcement actions taken against national banks and individuals currently and formerly affiliated with national banks. NR 2008-89, Enforcement Actions

Enforcement Actions

06/16/2008

The Office of the Comptroller of the Currency (OCC) released new enforcement actions taken against national banks and individuals currently and formerly affiliated with national banks. News Release 2008-69, OCC enforcement actions

Enforcement Actions

05/15/2008

The Office of the Comptroller of the Currency (OCC) released new enforcement actions taken against national banks and individuals currently and formerly affiliated with national banks. News Release 2008-54, OCC enforcement actions

Enforcement Actions

03/17/2008

The Office of the Comptroller of the Currency (OCC) released new enforcement actions taken against national banks and individuals currently and formerly affiliated with national banks. Release 2008-31

Enforcement Actions

02/21/2008

The Office of the Comptroller of the Currency (OCC) today released new enforcement actions taken against national banks and individuals currently and formerly affiliated with national banks. News Release 2008-21, OCC Enforcement Actions

Enforcement Actions

01/14/2008

The Office of the Comptroller of the Currency (OCC) released new enforcement actions taken against national banks and individuals currently and formerly affiliated with national banks. NR 2008-3, Enforcement Actions

Enforcement Actions

12/21/2007

The Office of the Comptroller of the Currency (OCC) released new enforcement actions taken against national banks and individuals currently and formerly affiliated with national banks and terminations of existing enforcement actions. NR 2007-136, Enforcement Actions

Enforcement Actions

11/19/2007

The Office of the Comptroller of the Currency (OCC) released new enforcement actions taken against national banks and individuals currently and formerly affiliated with national banks and terminations of existing enforcement actions. NR 2007-126, Enforcement Actions

Enforcement Actions

09/18/2007

The Office of the Comptroller of the Currency (OCC) released new enforcement actions taken against national banks and individuals currently and formerly affiliated with national banks and terminations of existing enforcement actions. NR 2007-96, Enforcement Actions

Enforcement Actions

08/14/2007

The Office of the Comptroller of the Currency (OCC) released new enforcement actions taken against national banks and individuals currently and formerly affiliated with national banks and terminations of existing enforcement actions. NR 2007-86, Enforcement Actions

Enforcement Actions

07/16/2007

The Office of the Comptroller of the Currency (OCC) released new enforcement actions taken against national banks and individuals currently and formerly affiliated with national banks and terminations of existing enforcement actions. NR 2007-74, Enforcement Actions

Enforcement Actions

06/14/2007

The Office of the Comptroller of the Currency (OCC) released new enforcement actions taken against national banks and individuals currently and formerly affiliated with national banks and terminations of existing enforcement actions. NR 2007-58, Enforcement Actions

Enforcement Actions

05/16/2007

The Office of the Comptroller of the Currency (OCC) released new enforcement actions taken against national banks and individuals currently and formerly affiliated with national banks and terminations of existing enforcement actions. NR 2007-46, Enforcement Actions

Enforcement Actions

04/16/2007

The Office of the Comptroller of the Currency (OCC) today released new enforcement actions taken against national banks and individuals currently and formerly affiliated with national banks and terminations of existing enforcement actions. NR 2007-39, Enforcement Actions

Enforcement Actions

03/19/2007

The Office of the Comptroller of the Currency (OCC) today released new enforcement actions taken against national banks and individuals currently and formerly affiliated with national banks and terminations of existing enforcement actions. NR 2007-22, Enforcement Actions

Enforcement Actions

02/15/2007

The Office of the Comptroller of the Currency (OCC) today released new enforcement actions taken against national banks and individuals currently and formerly affiliated with national banks and terminations of existing enforcement actions. NR 2007-12, Enforcement Actions

Ethics

12/06/2005

The rule implements new post-employment restrictions for Comptroller of the Currency (OCC) senior examiners of national banks. Final Rule (PDF), OCC 2005-41

Ethics

11/17/2005

The federal bank and thrift regulatory agencies issued final rules to implement a special post-employment restriction on certain senior examiners employed by an agency or Federal Reserve Bank, as required by the Intelligence Reform and Terrorism Prevention Act of 2004. NR 2005-113, Final Rules (PDF)

Ethics

08/30/2005

Proposed rule (PDF) would prevent the senior examiner of a national bank from working for that bank for one year after leaving the OCC. OCC Bulletin 2005-30, Comment on proposed rule

The Federal Reserve Board published, in the August 9, 2005, Federal Register, its annual amendment to its Regulation Z Commentary related to the dollar amount that triggers requirements for certain home mortgage loans subject to 12 CFR 226.32. OCC Bulletin 2005-31, Requirements (PDF)

Fiduciary Activities

03/27/2008

The Office of the Comptroller of the Currency (OCC) is providing guidance to national banks on the annual review requirement contained in OCC fiduciary regulation 12 CFR 9.6(c). OCC Bulletin 2008-10

Investments

01/20/2006

The letter (PDF) concludes a national trust company may sponsor a closed-end investment fund that will be exempt from registration under the Investment Company Act of 1940. The letter also concludes that the fund's underlying portfolio consists of bank eligible investments, and the particular types of national banks proposed may purchase the described fund shares pursuant to 12 CFR 1.3(h)(2), subject to specific safe and sound banking practices and a 1% aggregate investment limitation. This involves a structured product with exposure to a tranched credit default swap index.

Investments

05/26/2005

The letter (PDF) concludes that national banks may continue to hold a separate account BOLI investment that in turn holds interests in instruments with characteristics of debt securities and a rate of return, a portion of which is linked to equity securities, provided the bank's EIC has no supervisory objection.

Investments

02/17/2005

The letter (PDF) concludes that fixed rate annuities purchased by a national bank are, in substance, debt obligations of the issuing insurance company. Accordingly, the letter states that the bank had authority to purchase the fixed rate annuities under its authority in 12 U.S.C. § 24(Seventh) to discount and negotiate evidences of debt, subject to certain conditions. The annuities must be fixed rate with no penalties or fees for early surrender of the policies. The bank also should establish internal concentration limits for its combined holdings of fixed rate annuities from all issuers. Finally, the bank is required to comply with Banking Circular 181(Rev.) and OCC Bulletin 2002-19.

Investments

01/07/2005

This letter (PDF) concludes that a national bank may buy and sell, for its own account, exchange-traded units of beneficial interest in gold, subject to demonstration that the bank has the appropriate risk management systems in place to conduct the activity in a safe and sound manner.

The OCC, along with the other members of the Federal Financial Institutions Examination Council, recently released proposed guidance on reverse mortgage products. OCC 2010-3, Proposed Guidance (PDF 137KB)

OCC to host web and telephone seminar on SBA Lending Programs and the American Recovery and Reinvestment Act of 2009. News Release 2009-96

Lending

07/30/2009

On May 22, 2009, the Credit Card Accountability Responsibility and Disclosure Act of 2009 (Credit CARD Act) was signed into law. OCC Bulletin 2009-25

Lending

07/20/2009

Final Rule: Accuracy and integrity of consumer report information and direct consumer dispute regulations and guidelines. OCC Bulletin 2009-23, Federal Register (PDF), Comments should be e-mailed by July 30, 2009, to: regs.comments@occ.treas.gov. Please use the subject ''Risk-Based Capital Guidelines-Residential Mortgage Loans Modified Pursuant to the Making Home Affordable Program" when e-mailing.

Lending

07/10/2009

The OCC published in the Federal Register on June 30, 2009, an interim final rule concerning the risk-based capital treatment for one-to-four family residential mortgages modified under the U.S. Treasury Department's Making Home Affordable Program. OCC 2009-22, Interim Final Rule (PDF 746KB), Comments should be e-mailed by July 30, 2009, to: regs.comments@occ.treas.gov. Please use the subject ''Risk-Based Capital Guidelines-Residential Mortgage Loans Modified Pursuant to the Making Home Affordable Program" when e-mailing.

The Office of the Comptroller of the Currency and the Office of Thrift Supervision jointly released their quarterly report on first lien mortgage performance for the fourth quarter of 2008. News Release 2009-37, Mortgage Metrics Report (PDF 358KB)

The Board of Governors of the Federal Reserve System (the Board) published in the Federal Register a final rule amending the staff commentary that interprets the requirements of Regulation C. OCC 2009-3, Final Rule (PDF), Comments

Lending

12/22/2008

The Office of the Comptroller of the Currency and the Office of Thrift Supervision issued their second report on mortgage performance showing continued increases in delinquencies and foreclosures in process. News Release 2008-150, Mortgage Metrics Report (PDF)

Lending

11/12/2008

The Office of the Comptroller of the Currency responded to a request that it approve a new workout program for troubled credit card borrowers. NR 2008-132

Lending

11/12/2008

The Department of the Treasury, the Federal Deposit Insurance Corporation, and the Federal Reserve have recently put into place several programs designed to promote financial stability and to mitigate procyclical effects of the current market conditions. NR 2008-131

Lending

09/12/2008

The Office of the Comptroller of the Currency and the Office of Thrift Supervision joined forces to issue a joint report on the performance of approximately 60 percent of all first lien mortgages outstanding in the United States. NR 2008-105, Mortgage Metrics Report (PDF)

Lending

07/28/2008

Statement of Comptroller of the Currency John C. Dugan on Enactment of Housing Legislation. News Release 2008-90

Lending

07/23/2008

The Federal Reserve Board, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation recently issued updated host-state loan-to-deposit ratios that the banking agencies will use to determine compliance with section 109 of the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994 (Interstate Act). OCC 2008-18, Host-state loan-to-deposit ratios (PDF)

Lending

07/16/2008

The Office of the Comptroller of the Currency will host a conference on statistical analysis and modeling for fair lending risk assessment. Release 2008-82, Conference

Lending

07/08/2008

Comptroller of the Currency John C. Dugan issued a Forum on Mortgage Lending for Low- and Moderate-Income Households sponsored by the Federal Deposit Insurance Corporation (FDIC). News Release 2008-78

Lending

06/26/2008

The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency issued the host state loan-to-deposit ratios. News Release 2008-71, Loan-to-Deposit Ratios (PDF)

Lending

06/12/2008

The Office of the Comptroller of the Currency released its 14th annual Survey of Credit Underwriting Practices. News Release 2008-66

Lending

03/24/2008

The Office of the Comptroller of the Currency issued a interim final rule to add a provision to its part 32 lending limits regulation that will address temporary funding arrangements in emergency situations. OCC Bulletin 2008-8, interim final rule (PDF), Comment

Lending

03/03/2008

The Office of the Comptroller of the Currency issued a statement regarding the reporting of securitized subprime adjustable rate residential mortgages. News Release 2008-27

Lending

02/29/2008

The Office of the Comptroller of the Currency is requiring large national banks that service mortgages to provide comprehensive mortgage data on a monthly basis. News Release 2008-24

The Office of the Comptroller of the Currency published in the Federal Register the attached interim final rule amending 12 CFR 32, which governs lending limits. OCC Bulletin 2007-22

Lending

02/16/2006

Comptroller of the Currency John C. Dugan issued the following statement following a meeting with representatives of the National Association of Realtors (NAR). NR 2006-20

Lending

01/25/2006

The letter (PDF) applies the lending limit pilot program's special limit for loans secured by a first-lien security interest in 1-4 family residential real estate to two loans to the same borrower. The letter finds that the special limit is applicable to both loans as the loans are secured by liens second to no other lien holder.

Lending

01/20/2006

The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Office of Thrift Supervision, and the National Credit Union Administration (agencies) are seeking comment on proposed guidance for concentrations in commercial real estate (CRE) lending and sound risk management practices. OCC Bulletin 2006-2, Guidance (PDF), Comment

The letter (PDF) applies lending limit combination rules to three credit programs contemplated by a national bank, in which the bank would make loans, or make or buy leases, to independent contractors. The letter finds that each of the programs results in loan combinations under the lending limit. In addition, the second program involves partial attribution of leases to the seller under the lending limit's third-party paper rule.

Other Banking Activities

04/15/2011

The Office of the Comptroller of the Currency participated in the annual Financial Literacy Day on Capitol Hill event to educate and support consumers of financial services. News Release 2011-51

The Comptroller issues a statement "correcting a fundamental misunderstanding of the effect of three recent OCC interpretive letters dealing with the ability of banks to hold real estate used for the banks' business and to provide financing involving an indirect interest in real estate. These letters were not intended to expand, and do not expand, the authority of national banks to hold real estate. They also do not represent an erosion of the separation of banking and commerce. And they have nothing to do with real estate brokerage or preemption." NR 2006-3

Other Banking Activities

09/28/2005

The letter (PDF) is regarding the proposed performance of escrow agent activities by the Bank.

Other Banking Activities

02/15/2005

The letter (PDF) approves, for the first time, national bank participation in a group self-insurance plan for workers' compensation claims. Please let me know if you have any questions.

This letter advises counsel for the parties in a case pending in New Jersey state court that the OCC's real estate lending regulation and the National Bank Act do not preempt certain state laws when national banks purchase and hold loans as trustees for mortgage-backed securities. PDF

The Board of Governors of the Federal Reserve System published in the August 4, 2010, Federal Register its annual amendment to its Regulation Z Commentary related to the dollar amount that triggers requirements for certain home mortgage loans subject to 12 CFR 226.32. OCC Bulletin 2010-36, Final Rule (PDF)

The OCC appointed the Federal Deposit Insurance Corporation (FDIC) as receiver for Beach First National Bank, Myrtle Beach, South Carolina. News Release 2010-40

Regulations

11/20/2009

The OCC and other federal regulators of financial services providers have issued uniform final rules amending their regulations to include a model privacy notice that institutions can use at their option to provide initial and annual privacy notices to their customers, as required by the Gramm-Leach-Bliley Act (GLBA). OCC Bulletin 2009-33, Final Rule (PDF)

The Office of the Comptroller of the has issued a final rule to reduce unnecessary regulatory burden, update certain rules, and make certain technical, clarifying, and conforming changes to its regulations. OCC 2008-11, Final rule, NR 2008-47, Comments

The Office of the Comptroller of the Currency (OCC) is proposing to revise its rules in order to reduce unnecessary regulatory burden, to update certain rules, and to make certain technical, clarifying, and conforming changes to its regulations. OCC 2007-23, Proposed Rule

Regulations

07/11/2007

The federal bank and thrift regulatory agencies have requested public comment on a series of new and revised interagency questions and answers on CRA NR 2007-70, Comment

Regulations

07/03/2007

The OCC has issued a proposed rule in the Federal Register to reduce unnecessary regulatory burden and update and change various OCC regulations. NR 2007-67, Comment

First Senior Deputy Comptroller and Chief Counsel, Julie L. Williams, of the Office of the Comptroller of the Currency, testified before the Senate Banking Committee on the subject of regulatory relief. NR 2006-25, Statement (PDF), Testimony (PDF 238KB)

Regulations

06/06/2005

The federal bank, thrift, and credit union regulatory agencies issued interim final rules under the Fair Credit Reporting Act (FCRA) that create exceptions to the statutory prohibition against obtaining or using medical information in connection with credit eligibility determinations. NR 2005-55, Final Rule (PDF)

Regulations

05/17/2005

Acting Comptroller of the Currency, Julie L. Williams, released a list of Community Reinvestment Act (CRA) performance evaluations that became public during the period of April 15, 2004 through May 14, 2005. NR 2005-51, CRA

The federal banking agencies, in conjunction with the Conference of State Bank Supervisors (CSBS), released a policy statement on their expectations for sound funding and liquidity risk management practices. News Release 2010-27, Policy Statement (PDF 713KB)

This letter (PDF) concludes that the bank's proposed securities conduit lending services are legally permissible for a national bank. The bank proposes to act in the capacity of a "conduit lender" to provide additional return enhancements to its securities lending customers.

Securities Activities

10/29/2007

The Securities and Exchange Commission (SEC) and the Board of Governors of the Federal Reserve System (Board) jointly issued final rules that define the extent to which securities brokerage activities of banks are subject to SEC regulation. OCC Bulletin 2007-42, Final Rule (PDF 750KB), Rule Exemptions (PDF 153KB), Comments

Securities Activities

01/10/2005

This letter (PDF)concludes that it is legally permissible for national banks to become members of the Government Securities Division of the Fixed Income Clearing Corporation and participate in its loss allocation system.

Acting Comptroller of the Currency John G. Walsh issued the following statement in recognition of America Saves Week, February 20 – 26, 2011. News Release 2011-21

Speeches and Testimony

02/17/2011

Acting Comptroller John Walsh testified before the Senate Banking Committee on the initiatives the OCC has undertaken to implement the Dodd-Frank Wall Street Reform and Consumer Protection Act. Oral Statement (PDF), Written Testimony (PDF)

Acting Comptroller of the Currency John Walsh addressed Washington, D.C.’s, Exchequer Club on the intersection of three key issues that will arise in implementing the two most significant policy initiatives completed during 2010 – Dodd-Frank and the Basel III capital framework. Speech (PDF)

Comptroller of the Currency John C. Dugan's speech before the Independent Community Bankers Association. Speech (PDF 205KB)

Speeches and Testimony

03/01/2010

Comptroller of the Currency John C. Dugan said that the central challenge for bank regulators over the coming year will be to strike the right balance between capital and credit availability. News Release 2010-26, Remarks (PDF 41KB)

Statement of Comptroller of the Currency John C. Dugan following tour of San Francisco Small Businesses. News Release 2009-138

Speeches and Testimony

11/05/2009

The Office of the Comptroller of the Currency's Chief of Staff and Public Affairs John G. Walsh delivered remarks before attendees of the National Community Investment Fund's Annual Development Banking Conference in Chicago. News Release 2009-136, Remarks (PDF)

Comptroller of the Currency John Dugan testified before the Senate Committee on Banking, Housing, and Urban Affairs on the administration's proposal for financial regulatory restructuring. News Release 2009-90, Final Decision (PDF)

The Chief Counsel and First Senior Deputy Comptroller Julie L. Williams testified before the House Committee on Financial Services about the OCC's views on H.R. 5244, the Credit Cardholders' Bill of Rights of 2008. NR 2008-45, Speech (PDF), Testimony(PDF)

Speeches and Testimony

04/09/2008

The Comptroller of the Currency, John C. Dugan testified before the House Financial Services Committee on the draft FHA Housing Stabilization and Homeownership Retention Act of 2008. NR 2008-38, Testimony (PDF), Statement (PDF)

Speeches and Testimony

03/04/2008

Comptroller of the Currency John C. Dugan told a Senate Committee that while the banking system is fundamentally sound, it is being tested by large and unprecedented credit market disruptions plus the slowdown in the economy. News Release 2008-28, Summary, Testimony (PDF)

Speeches and Testimony

03/03/2008

Comptroller of the Currency John C. Dugan said that many national banks in the United States have indicated they will take advantage of the flexibility provided by the 36-month window for Basel II implementation provided in the final U.S. rule. NR 2008-26, Speech (PDF), Summary

Speeches and Testimony

02/14/2008

Comptroller of the Currency John C. Dugan issued the following statement responding to comments from New York Governor Eliot Spitzer. NR 2008-16

Comptroller of the Currency addressed the Florida Bankers Association in Miami. NR 2008-9

Speeches and Testimony

12/06/2007

Comptroller of the Currency John C. Dugan issued the following statement at the Department of the Treasury press conference announcing a plan to assist a key segment of subprime borrowers to modify their mortgages and avoid foreclosures. NR 2007-132

Comptroller of the Currency John C. Dugan said that consumers should be given the opportunity to "opt out" of certain credit card rate increases and be given the alternative of paying off the card balance at the old rate. NR 2007-104

Speeches and Testimony

09/20/2007

OCC First Senior Deputy Comptroller and Chief Counsel Testifies Before Senate Committee About the Hardships Created By Garnishment of Federal Benefits. NR 2007-98

Speeches and Testimony

09/05/2007

Comptroller of the Currency John C. Dugan told a House committee that despite challenging conditions in mortgage and credit markets, the national banking system remains safe and sound. NR 2007-93, Testimony (PDF)

Speeches and Testimony

07/11/2007

Chief Counsel and First Senior Deputy Comptroller Julie L. Williams discussed the Supreme Court's decision in Watters v. Wachovia Bank in a speech to the New York Bankers Association. NR 2007-72

Speeches and Testimony

07/11/2007

Comptroller of the Currency John C. Dugan issued the following statement addressing interagency questions and answers on the Community Reinvestment Act. NR 2007-71

Speeches and Testimony

06/07/2007

Comptroller John C. Dugan, testified before the House Subcommittee on Financial Services and Consumer Credit, chaired by Congresswoman Maloney, on the effectiveness of credit card disclosures and related issues. NR 2007-54, Testimony (PDF)

First Senior Deputy Comptroller and Chief Counsel Julie L. Williams discussed three interpretive letters issued by the OCC in December 2005 in testimony before the Subcommittee on Government Management, Finance, and Accountability of the House Committee on Government Reform. NR 2006-105, Statement (PDF), Testimony (PDF)

Comptroller of the Currency John C. Dugan said in a speech that both consumers and banks have benefited from the long fight to shed outdated laws and regulations, and he expressed pride in the role he played in those efforts. NR-2005-95, Remarks (PDF)

Speeches and Testimony

09/23/2005

Chief Counsel and First Deputy Comptroller Julie L. Williams testified before House Committee on Financial Services on Regulatory Relief and support to Katrina Recovery Efforts. Statement (PDF), Testimony (PDF)

Speeches and Testimony

07/14/2005

Acting Comptroller of the Currency, Julie L. Williams noted recent developments in federal/state jurisdiction over national banks and discussed how those developments relate to the history and characteristics of the national banking system and the bank supervisory process. NR 2005-68

Acting Comptroller of the Currency, Julie L. Williams spoke before an OCC Bankers Outreach Meeting Chicago, Illinois on the eve of the Memorial Day weekend, a traditional time to count the blessings of our free society and pay tribute to those who fought to preserve and protect it. NR 2005-53, Remarks (PDF)

Speeches and Testimony

03/11/2005

Acting Comptroller of Currency Julie L. Williams addressed the Independent Community Bankers of America San Antonio, Texas about Bankers Regulatory Burden Relief of how it should be a national priority. NR 2005-29, Speech (PDF)